secwatch.observer — SEC 8-K summary
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Issuer:     TUESDAY MORNING CORP/DE (—)
CIK:        0000878726
Form:       8-K
Filed at:   2023-02-17T23:59:59+00:00
Accession:  0001104659-23-023292
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 1.01, 1.03, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tuesday Morning files Chapter 11, secures up to $51.5M DIP financing; equity likely worthless
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- Filed Chapter 11 on Feb 14, 2023; operates as debtor-in-possession under Bankruptcy Court.
- DIP term loan facility up to $51.5M: $15M initial, $26.5M incremental, $10M delayed draw; 12.75% interest.
- Existing common stock expected to be cancelled; holders likely receive no recovery through Chapter 11.
- Proceeds used to fund Chapter 11 cases, working capital, and repay prepetition debt as per court orders.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/878726/000110465923023292/0001104659-23-023292-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/878726/000110465923023292/tm237022d3_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-023292

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